Tuesday the Illinois State Senate took a bold step in fighting inequality by becoming the first state chamber in the country to vote in favor of closing the carried interest loophole.
The following letter was sent to the DC Council on May 18, 2017 by The Patriotic Millionaires, the DC Chapter of Resource Generation, and Andy Shallal, DC resident and owner of Busboys and Poets.
I am outraged. “45” spent his entire campaign claiming that he would stand up for everyday Americans, and yet his recent tax proposals are nothing more than thinly disguised handouts for the wealthy. Not the wealthy…the super wealthy!
We have a wage problem in the United States. Our current system is not working. It is harming our economy and money is not going to those who need it most but to the wealthiest.
Repealing the ACA tax under Trump’s tax plan will leave a healthcare deficit and is the first step towards ACA repeal, which the Congressional Budget Office reported would kick nearly 24 million Americans off health insurance over the next 10 years.
The alternative minimum tax, or AMT, exists to keep very wealthy Americans from using deductions and loopholes to avoid paying taxes.
This morning the Patriotic Millionaires took to the streets once again to fight for a fair minimum wage. Vice-chair Stephen Prince spoke at a rally to raise the minimum wage alongside Senators Bernie Sanders, Patty Murray, and Chuck Schumer.
The purpose of the American minimum wage is to ensure that all Americans are able to earn enough money to provide for the basic needs of themselves and their family.
There might be a few legitimate reasons for someone to have a company based out of the British West Indies. Perhaps they happen to be one of the 57,000 people who live there.
Housing and Urban Development Secretary Ben Carson made three grave mistakes on Tuesday with his comments.
First, do we acknowledge that inequality has risen to an extreme level? If yes, is there acknowledgment that this is a big problem, if it is not moderated?
Tax cuts reduce government services which hurt workers more than the wealthy. This is a form of reverse redistribution–gains for the wealthy, net losses for the working class.
Consider what Trump himself said last January: “My whole life I’ve been greedy, greedy, greedy. I’ve grabbed all the money I could get, I’m so greedy.”
This weekend, Patriotic Millionaire Sam Polk is opening the first of hundreds of planned new restaurants that are bringing a whole new model of capitalism to bear on the issue of limited food choices and quality in poorer neighborhoods.
Another powerful force came into play in 2012 that has made a major change in the nation’s knowledge of the poor among us.
Tragically, Ryan has no concept of the depth or extent of poverty in America. He presents ideas that nibble around serious issues, while tens of millions of Americans suffer real time consequences of failed policy.
We hear a lot of talk about pay: how much CEOs earn, how little waiters get, etc. While an important indicator, wages do not fully address the real inequality in our nation.
It impacts how we live and even how long we live. It affects education, the length and depth of poverty in our nation, our ability to rise and make a new life for ourselves. Structural inequality means that public policies are made to benefit a very few instead of the mass of Americans. Despite vaunted myths about our democracy, average Americans have little or no influence on political decisions in the United States.
A stronger middle class means higher spending power, a growing economy, and the creation of jobs. More importantly though, we benefit when we have a middle class that has less stress and more dignity. It’s a value decision that will keep us moving forward as a democracy.
Millions of Utahns will file their taxes this week, but thousands of investment fund managers earning millions of dollars per year will pay at a lower tax rate than teachers, firefighters and most ordinary Americans. A group of Utahns, the Utah Chapter of the Patriotic Millionaires, want this changed and called on Senator Orrin Hatch to close the “carried interest loophole.”